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but continuing with the theme of abundance, we will see the development of an energy surplus because of technological advances in exploiting both oil and natural gas resources, combined with new energy efficiency measures that will greatly reduce u.s. energy use. now the u.s. is now predicted, the international energy agency, predicts the u.s. will be the, will be the number one producer of oil by 2020. it will also be probably close to the top in the producers of natural gas. this will give us the wealth and income, mike lindh mentioned -- lind, mentioned 1 1/2% of gdp, we have 16 to 20 years to make up for the short fall in, in social security and 4 to 5% in medicare. well, the explosion of a moving from a energy deficit to a energy surplus will more than half close that gdp gap. so, we have a economic conditions that suggest that the challenges we face are the exact opposite of what the bowles-simpson grand bargain would impose on us as a growth strategy. the conditions that we're going to face over the next five to eight years with some amelioration if we do the right things are
and the truth is, they are brutal. you look what is happening in the iranian energy area, not only the fact that they're able to sell, you know, less than 50% of what they were selling before. it is that their production, their output is down from over 4 million barrels a day to 2.6 million barrels a day. part of the reason for that is precisely because of the sanctions, the inability to continue to invest in the energy infrastructure, the inability to continue to pump and store oil as they shut down oil fields that may not be so easy for them to recoup. you look what is happening to the currency, the devaluation. there are some estimates that the currency is being devalued by half every two months. think about what that means. it means that what you're buying, when you go and you buy something it costs you twice as much. it means what you have in the bank is worth half as much. if this is continuing to happen, it is bound to have an effect on the society as a whole whole. look at what the supreme leader has been saying over the last couple weeks. on more than one occasion he has explicitly
of their energy and time focused on their ill health, where the ramifications of that were family members, there's just not much space for doing the things we'd like to see. so we have great ideas, wonderful examples of governments and education and so forth that we have seen and would like to spread. people don't have time for them, can't focus on it. and the vacancy -- the vacuum created by that basic security invites trouble. in my experience, this is where problems are. as i look around the world, there are a few areas that are well educated and well defined, but there are vast areas that troubles some, that are hallmarks by lack of stability and security and so forth. so i think in my mind, decent dvd. not every case because it's a good quote. lots of different situations, but that's when. the chama manufacturing front and that will get the uniform in the back there. right here, sir. >> i am from the national institute of allergy and disease at nah. before that i was on the army retired medical blog. i was actually recruited to nih because they military background because 12 years ago, the
Search Results 0 to 2 of about 3